The Building Boom in Qatar: Shaping the Economy For Lucrative Returns

An environment made to prosper, an exposure you’ll get nowhere, a lifestyle that’d probably knock your socks off and what not!
You might’ve judged an expression here, but isn’t that self-understood when it comes to a country like Qatar!
A country based in the Persian Gulf, there’s a lot more to this exotic Arab land than just the Riyals. Providing job alternatives in heaps and gaining immense prominence all across the globe, Qatar has stood up as an epitome of public inclusive economic growth. One such phenomenon under limelight of late is the ‘building boom’ in the country.

Pushing For a Robust Growth
With the Qatar World Cup nearing day by day, the construction industry in the country is going berserk over the infrastructure developments and has been pushing for an operational framework that accommodates a higher quantity and quality of real estate developments for Qatar to stay ahead on the front. Over the last two years, it has spent over $312 billion on a building bonanza, with public sector spending taking the charge for a robust growth.
Plus, things like the Doha metro; being worked on since the last two years is expected to be fully operational by 2019. The imperative thing to notice over here is that apart from the regime’s incessant efforts, certain private firms like Barwa have proven to be immensely instrumental in driving major real estate projects across various sections in the country.
Might astonish you, but a country as small as Qatar manages to have a construction sector earning more revenue and working on a wider spectrum than the combined ones for Kuwait, Oman and Bahrain. Be it the construction of renowned Sharq Crossing ($12 billion bridge) or the underwater tunnel link running across the Doha Bay, the list to the marvels being built and planned for the due course of time ahead is endless.

Is It Supplementing The Qatari Economy?
Despite the much talked about hydrocarbon slowdown in the country, Qatar has shown signs of a strong year-on-year growth during the first quarter of 2015. The economy has nearly expanded by a considerable 4.1% by the end of March 2015, which was majorly propelled by the building boom in the country. No doubt, construction has been the fastest growing sector with nearly all activities increasing by an 11.4%. Mega projects like the Doha Metro, the enigmatic Lusail City and Msheireb Downtown Doha, are being looked forward to by the whole wide world.
Majorly, low inflation, considerable surpluses in the current account and a strong fiscal balance has added to the ongoing diversification and rapid momentum gained by the Qatari construction sector. Plus, the sector’s increasing growth has also asked for an increased support from sectors like transportation and logistics, with large-scale work being taken up on different infrastructural projects. Hence, it substantiates a robust growth in other sectors as well.
Pressing ahead with its construction schedule in the most efficient way possible, the country has also come up with a plethora of job profiles in the sector for different professionals to find lucrative job offers paying a good number. For instance, recently a contract worth Dh 3.15 billion has been put forth to build the Al Bayt stadium in the city of Al Khor. Developments like these will naturally cause a greater influx of expats from different social backgrounds, hence also stiffening the competition in the Qatari job market.

It might just be a matter of time, when the country takes a proud stand in the global economy as a real estate super power. So, without further ado, find as much about it as you can. Who knows, making a pick here might craft your professional life to be blissful in every sense!

Author Bio: Anshuman Kukreti is a professional writer and a keen follower of the global job market. An engineer by qualification and an artist at heart, he writes on various topics related to employment in Qatar and the Gulf. He is presently working as a content writer for Naukrigulf com. Reach him @ LinkedIn, nbsp;Twitter and Google+.